Understanding the types of trading orders is a fundamental step for any trader. There is the Market Order, which is executed immediately at the current price and is ideal for speed, but may lead to slippage. In contrast, the Limit Order gives you control over the price, but it may not be executed if the market does not reach the price you specified. There is also the Stop Order, which is often used to stop losses or enter a trade after breaking a certain level. Learning to use these orders wisely helps you manage risks and achieve your goals accurately. When trading a currency like ETH, all these types can be used effectively depending on market movements.
